Philly Retail Space

Philly Retail SpaceWolf Commercial Real Estate is a premier Philadelphia commercial real estate broker that represents Philly retail space for lease and sale.

We are experts in the Philadelphia retail space market, with a team of seasoned and knowledgeable real estate advisors ready to help you achieve your real estate goals. At Wolf Commercial Real Estate, we go well beyond simply handling property transactions. As an unparalleled Philadelphia commercial real estate broker, we are a strategic partner whose number-one priority is our client’s long-term growth and success in the Philadelphia retail space market.

Retail businesses looking to buy or lease retail space in Philly can be assured that the professionals at our Philadelphia commercial real estate brokerage firm have the expertise to help you find the Philly retail space that best suits your needs. At Wolf Commercial Real Estate, we make certain that the sale or lease terms for your new Philadelphia retail space work to advance your commercial real estate goals. We’re the Philadelphia commercial real estate broker that is with you from the beginning of the transaction to the end, making the transition to your new retail space in Philly smooth and seamless.

Do You Own Philly Retail Space?

Retail property owners looking to sell or lease retail space in Philadelphia will appreciate the defined marketing strategy that the team at our Philadelphia commercial real estate brokerage firm creates and customizes for each property and sub-market. This process works to effectively and efficiently match buyers and tenants with retail space in Philly.

Retail space in Philadelphia is aggressively priced, and market trends show that the retail business in the region is poised for a massive rebound. For more information, please contact the team at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate brokerage firm.

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Philadelphia Inflation Remains Stubbornly High

Philadelphia Inflation Remains Stubbornly High

The Philadelphia metro area continues to outpace the national average in inflation, with October 2024 figures showing a 3.4% annual increase compared to the 2.6% national rate. This persistent gap reflects ongoing regional economic pressures. While inflation has eased from early 2024 peaks, when Philadelphia exceeded 4%, the local rate has consistently averaged 0.8 percentage points higher than the national figure. Shelter costs, the largest component of the consumer price index, remain a key driver. In October, Philadelphia’s shelter costs rose 5.1% year-over-year, slightly above the national increase of 4.9%. Excluding shelter, Philadelphia’s inflation rate stands at 2.3%.

*Article courtesy of Costar

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Trader Joe’s Announces Second Chester County Location

Trader Joe's Announces Second Chester County Location

Trader Joe’s is set to open its second Chester County store in Berwyn at 550 Lancaster Ave., the company announced on its website. While no opening date has been provided, the new location will occupy a 14,000-square-foot corner space in the Berwyn Shopping Center, previously home to a CVS Pharmacy that closed in September 2023. The store will not sell alcohol, and Trader Joe’s did not immediately comment on the plans. Trader Joe’s stores typically range from 8,000 to 15,000 square feet, smaller than the average grocery store format of 40,000 square feet.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Giant Closing Center City Store After 3 Years

Giant Closing Center City Store After 3 Years

Giant Co. is closing its Heirloom Market grocery store in Center City’s Fashion District on Dec. 28, three years after its opening, according to a state filing. The 32,000-square-foot store at 801 Market St., which employs 61 people, was the largest of Giant’s four Heirloom locations in Philadelphia. Opened in December 2021 in the historic Strawbridge’s building, it was part of a push to expand the urban-focused concept. The closure reflects ongoing challenges in the Market East corridor and Fashion District. Giant’s other Philadelphia locations include a 65,000-square-foot flagship store at Riverwalk and a location at 510 N. Broad St.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

TGI Fridays to Exit 80 U.S. Leases

TGI Fridays to Exit 80 U.S. Leases

A U.S. bankruptcy judge has approved TGI Fridays’ plan to exit 78 restaurant leases and its Dallas headquarters office lease, saving the chain about $1.4 million per month. This move follows the closure of several locations and TGI Fridays’ Chapter 11 filing due to financial struggles linked to the pandemic and its capital structure. The bankruptcy case does not affect the 122 U.S. franchised locations or 316 international franchised restaurants, as they are independently owned.

After exiting these leases, TGI Fridays will operate only 39 company-owned U.S. locations, down from 117 before bankruptcy. An attorney for the chain stated that TGI Fridays retains the right to reject additional leases during the proceedings. The court also approved $3.3 million in interim debtor-in-possession financing.

*Article courtesy of Costar

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Reading Terminal Market Offers Shorter Leases for New Vendors

Reading Terminal Market Offers Shorter Leases for New Vendors

To revitalize its offerings, Reading Terminal Market is launching shorter leasing options for new merchants. The historic market, one of the largest and oldest in America, is reinstating its day cart program and plans to pilot a short-term lease option within the next year, according to CEO Annie Allman. These initiatives are part of Reading Terminal’s new five-year strategic plan.

The day cart program aims to introduce new businesses with the potential to become full-time merchants, while the short-term leases will regularly refresh the market’s offerings for returning customers.

“All stakeholders emphasized the importance of keeping the market both familiar and fresh,” Allman noted.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Retail Construction Hits New Lows in Philly

Retail Construction Dwindles in Philadelphia

Despite a steady construction pipeline in recent years, retail development in the Philadelphia area has reached a new low in 2024. With just one quarter remaining, the year is on pace to have the fewest retail construction starts in decades, mirroring a nationwide trend.

Only 200,000 square feet of retail space has broken ground in the Philadelphia region this year, a sharp decline compared to the more than one million square feet seen in previous years. This drop signals a record-low level of new retail inventory in the near future, further limiting the supply of modern retail spaces in high demand.

*Article courtesy of Costar

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Temple University Acquires North Broad Street Shopping Center

Temple University Acquires North Broad Street Shopping Center

Temple University has purchased a shopping center on North Broad Street near its health system campus, with potential plans to add medical offices. The university paid $8.2 million to Overbrook Investment Properties LLC for the 45,290-square-foot retail property, according to property records. The site is fully occupied, except for an 11,447-square-foot former Rite Aid.

Located at 3216-60 N. Broad St., on the southwest corner of Broad and Westmoreland streets, the center sits south of Temple University Hospital and across from the Maurice H. Kornberg School of Dentistry.

Temple Health CEO Michael A. Young stated that the health system is considering offering primary care physician services at the location. If implemented, these services would occupy the former Rite Aid space, while the remaining retail tenants would continue to operate, according to Temple spokesperson Steve Orbanek.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Developer Plans $70M Shopping Center in Concord Township

Developer Plans $70M Shopping Center in Concord Township

A long-vacant 25.5-acre site in Delaware County, approved for 165,000 square feet of retail space, is changing hands. Moorestown, New Jersey-based Retail Sites is set to acquire the parcel at Route 202 and Ridge Road near Glen Mills and Chadds Ford from Newport, Delaware-based developer Pettinaro Co. Retail Sites plans to invest between $50 million and $70 million to develop the property into the Shoppes at Concord, according to President Robert Hill.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Haverford Retail Partners Acquires Springfield Center

Haverford Retail Partners Expands Portfolio with Springfield Center Acquisition

Haverford Retail Partners (haverfordretail.com), a Bryn Mawr, PA-based owner and operator of retail real estate investments, has expanded its portfolio with the acquisition of Springfield Center, a prominent 176,698-square-foot retail property. The fully leased center is home to eight national and regional tenants, including Barnes & Noble, DSW, Marshall’s, and Bob’s Discount Furniture.

“We’re excited to acquire our third property in the Washington D.C. market. Springfield Center is a prime location with a strong, stable tenant base. This acquisition pushes our total for the quarter to over $75 million, marking significant growth for our investors,” said Joseph Staugaard, Principal of Haverford Retail Partners.

Haverford Retail Partners remains focused on expanding its portfolio of essential retail properties and continues to target similar acquisitions in key markets. We are open to discussing this acquisition and our broader investment strategy.

*Article courtesy of CityBiz

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Bank of America Plans to Open Five New Branches

Bank of America Plans to Open Five New Branches

Bank of America plans to open 165 new U.S. branches by the end of 2026, including five in the Philadelphia region. Nearly 40 of these locations are expected to open by the end of this year. According to spokesman Andy Aldridge, the bank will open branches at 3843 West Chester Pike in Newtown Square and 5692 Rising Sun Ave. in Northeast Philadelphia’s Lawncrest neighborhood by the end of 2024.

Aldridge also shared that Bank of America has three additional sites planned for the Philadelphia area: in Springfield, Wyncote, and Mount Laurel. The two Pennsylvania branches are expected to open in late 2025, with the South Jersey location slated for mid-2026.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.